GBPUSD on Monday dropped -0.29% to 1.23773. What we know.

GBPUSD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	-0.29%	-35.7 Pips
Week to-date	-0.33%	-41.4 Pips
April	0.32%	39 Pips

Upcoming key events (London Time)

Tue 07:00 AM GBP Claimant Count Change
Tue 07:00 AM GBP ILO Unemployment Rate (3-mth)
Wed 07:00 AM GBP CPI Inflation Rate (12-mth) | Mar

What happened lately

No major activities.

What can we expect from GBPUSD today?

GBPUSD on Monday dropped -0.29% to 1.23773. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at S1 1.23402 with break below could see further selling pressure towards S2 at 1.2303. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.24381 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.23520 would indicate selling pressure.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out:

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